Chinese dictator Xi Jinping began a week-long tour of South America in Peru on Thursday, where he and President Dina Boularte completed the construction of a new deep-water port in Chancay with $1.3 billion in Chinese investment.
Xi explained Chancay Port is an important point on the “21st Century Maritime Silk Road''. China's international infrastructure project, officially known as the Belt and Road Initiative (BRI), is modeled after the Silk Road, an ancient trade route that ran through Asia until the 15th century.
“China is ready to work with the Peruvian side to build a new sea-land corridor between China and Latin America and connect the Great Inca Trail, using the Chancay Project as a starting point,” Xi said.
great inca trail, known It was a vast network of roads that ran through their mountainous empire, leading up to the Incas as the Capac Nun ('King's Road'). The famous ruins of Machu Picchu are located within this network. Many of South America's modern roads were built on ancient roads that were part of the Great Inca Trail.
President Xi wrote an op-ed in Peru's state-run newspaper stating that Chancay port will create 8,000 jobs, generate $4.5 billion in annual revenue, and reduce shipping costs from Peru to China by 20% by reducing transit time to 23 days. % reduction. The current average is 35.
only first stage The port, now complete, is already large enough to handle 6 million tons of cargo per year, which is large by Latin American standards but greater than what major ports in North America and Europe can handle. are much less.
The total cost of the facility is estimated at $3.6 billion, with further investment expected from China. Future steps include building a large industrial park around the port, where Chinese electric vehicle (EV) giant BYD is based. plan This is to build an assembly factory.
China's Cosco Shipping will own a 60% stake in the port, with the remainder held by Peru-based mining company Volcan, which is owned by Swiss commodities giant Glencore.
China has a particular interest in Peru's copper exports. Peru's largest copper mine, Las Bambas, supplies about 2 percent of the world's copper. own It was made by a Chinese company called MMG Ltd.
costco explained Thursday's statement called Chancay its “first green and smart port investment.”
“The Port of Chancay has integrated intelligent loading and unloading equipment, which contributes to a reduction in energy consumption of more than 25% with purely electric container trucks alone,” the company said.
“Looking to the future, COSCO SHIPPING Chancay Port aims to become a hub port in Latin America, characterized by its operational efficiency and commitment to green and low-carbon growth. , aims to transform the route between Chancai and Shanghai into a prosperous road for the mutual prosperity and development of China and Latin America,” the statement concluded.
Chinese Foreign Ministry Spokesperson Lin Jian said On Friday, the Chinese government announced that it would “guarantee the success of Chancai Port from construction to management and operation.”
Lin said the port will strengthen China's role in “the overall development and integration of Latin America and the Caribbean.”
of financial times (FT)Friday quotation Western analysts and officials feared that the Chancay port project, if left unchecked, could transfer Peru's sovereignty to Chinese control. in many cases In conjunction with the Belt and Road project, it could eventually provide a berth for Chinese warships.
“The risks to Peru are on multiple levels. The primary risk is that the country will not be able to reap the benefits of its rich resources and geographic location, and that the Chinese will instead benefit from them,” the U.S. Army said. warned Evan Ellis, professor of Latin American studies at the university.
Ellis said the May vote by Peruvian lawmakers to give China's Cosco exclusive rights to operate the port of Chancay was “previously unthinkable and a major threat to Peru's access to its port, which is its window to the world.” “It goes against the essence of sovereignty claims.”
“'' was also implemented in the May vote.cabotage methodThis gave China and its business partners the freedom to transport cargo throughout Peru. This would allow smaller ships to dock at other Peruvian ports and transport cargo to Chancay, where it would be loaded onto giant ships bound for China. The cabotage law also makes it easier for neighboring Brazil to trade with China through Chancay.
The Peruvian Congress was hesitant to give Chancay the large tax breaks that policymakers had hoped for, in part because such a favorable tax environment meant that the Peruvian government-owned rival This was because it would give Chancay an overwhelming advantage over the port.
Peru's Trade Minister Ursula León said: F.T. The US is “losing opportunities” to invest in Peru, leaving everything to China. The United States and China both have free trade agreements with Peru, but last year China exported $23 billion in goods to Peru, compared to only about $9 billion from the United States.
One of the big questions hanging over China's large-scale expansion into Peru is what President-elect Donald Trump will think of it. Peruvian politicians are nervous about getting involved in the incident new trade war Between Trump and Xi.
President Xi's South American itinerary includes a stop in Rio de Janeiro, Brazil, to attend the G20 summit from November 17 to 21. Brazil is considering inviting China to join the Belt and Road Initiative.
Mr. Xi will do the same. participate Outgoing US President Joe Biden will also attend the APEC summit, marking his first and last visit to South America as president.
China's state-owned Global Times on monday mocked It criticized US concerns about the Chancay port project and accused the US of “bias” and “slander”, including warnings about “military use of the port”, “economic coercion” and “ecological damage”.
of Global Times He argued that the Peruvian port project is “a bridge of substantive cooperation between China and Latin America, and in no way an instrument of geopolitical competition.”
“Latin American countries, as independent and sovereign states, are fully capable and wise in choosing partners in their own interests. It will be a blessing to Asia-Pacific and the world,” the Chinese Communist Party newspaper said.
